Brickley Wealth Management Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

Brickley Wealth Management decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 6.3% during the third quarter, HoldingsChannel.com reports. The firm owned 4,676 shares of the computer hardware maker’s stock after selling 314 shares during the quarter. Brickley Wealth Management’s holdings in NVIDIA were worth $568,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its position in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $139.93 on Friday. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The company’s 50-day moving average is $139.99 and its 200 day moving average is $127.80. The firm has a market capitalization of $3.43 trillion, a P/E ratio of 55.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,351,886 shares of company stock worth $176,825,650. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NVDA shares. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. TD Cowen upped their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Citigroup increased their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.